Irish renewable energy company Astatine has announced an investment of €800 million (£695 million) to roll out renewable energy generation and industry decarbonization solutions across Britain and continental Europe, in partnership with Aviva Investors.
Under the program, the companies will develop a number of assets – including PV generation projects, battery energy storage systems (BESS), electric vehicle (EV) chargers and heat pumps – targeting the energy, heat and transport sectors, which the companies describe as “energy-intensive industries and hard-to-mitigate sectors”, across the continent.
While the companies did not specify where these projects would be built, or how much money would be invested in solar and storage projects versus other technologies, they noted that they have a starting portfolio of 128 MW of electricity generation assets. They expect these projects to be commercially operational within the next two years and have an additional 500 MW of “pipeline capabilities.”
“These energy sources are economical, can withstand the fluctuating prices that traditional energy sources suffer from and can help entire sectors manage their energy transition in a cost-effective way,” explains Angenika Kunne, head of infrastructure assets at Aviva Investors, the investment arm of insurer Aviva. “This is an important part for companies that want to reduce energy costs and improve economic competitiveness.”
This article appeared in full for the first time on PV Tech.
